The picture comes from the prospectus

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The following is an introduction to the specific situation of these two companies.

Chaoyan Co., Ltd. is the "forefather" of ultrasound in my country, with a gross profit margin of over 66%

The full name of Chaoyan Co., Ltd. is "Shantou Ultrasonic Instrument Research Institute Co., Ltd." and its predecessor is the Ultrasonic Research Institute established in 1982. In 1983, the company independently developed the first generation of mass-produced "China B-ultrasound" in China, opening the way for the localization of ultrasound diagnostic equipment in my country.


Chaoyan’s product structure is relatively simple. Its main products are medical imaging equipment (including medical ultrasound imaging equipment and portable DR equipment) and industrial non-destructive gambling data vietnam testing equipment, which are ultimately mainly used for human disease screening and diagnosis and industrial equipment structural flaw detection.

From 2021 to the first half of 2024 (referred to as the "reporting period"), Chaoyan Co., Ltd.'s ultrasound equipment revenue accounted for more than 80% of its main business revenue, of which medical ultrasound equipment contributed more than half of the company's revenue, and industrial ultrasound equipment accounted for about 15% of the revenue. The revenue share of products such as X-rays, medical ultrasound probes, and industrial ultrasound probes was relatively small.


The company's main business income is classified by product. Image source: Prospectus

In recent years, as the problem of population aging has become increasingly serious, the incidence of chronic diseases has increased year by year, and medical and health investment has increased. Against this background, the global medical device market has expanded rapidly, and the scale of the global medical device market has shown an upward trend. As one of the sub-sectors of the medical device industry, the scale of ultrasonic medical imaging equipment is also on the rise.

According to SignifyResearch data, from 2019 to 2024, the global ultrasound medical imaging equipment market size is expected to grow at a compound annual growth rate of 9.13%; the Chinese ultrasound medical imaging equipment market size is expected to grow at a compound annual growth rate of 11.30%.